3D Printing Market Set for Double-digit Growth During 2019-2029
A product of breakthrough innovations and cutting-edge technologies, 3D printing, or additive manufacturing, has made significant strides since its inception. Moreover, the capabilities of its hardware components are undergoing rapid transformations apropos of accuracy, resolution, and speed. The benefits of 3D printing technology over other manufacturing techniques is disrupting the way objects are designed, developed, and produced. Although the technology is yet to witness mass-adoption, it is poised to play a meaningful role in Industry 4.0. Growing at a double-digit CAGR, global revenue of the 3D printing market will increase seven-fold by 2029.
Key Research Findings - Global 3D Printing Market
- The global 3D printing market revenue is set to increase seven-fold by 2029.
- Demand for industrial-grade 3D printing remains prominent, while professional-grade 3D printing will gain swift momentum through 2029.
- Adoption of material extrusion technology will continue to rise through 2029, while deployment of vat polymerization for 3D printing gains pace.
- Aerospace industry will remain the key revenue generator of the global 3D printing market.
- 3D printing is increasingly used in automotive sector, in the view of lightweighting and weight-reduction trend
Key Dynamics Influencing 3D Printing Market Growth
- Increased Demand for Efficient Prototyping Tools
In recent times, 3D printing has been gaining significant traction as a viable method to manufacture efficient prototypes. Today, as prototypes are no longer created using one-size-fits-all approach, engineers and tech companies are increasingly leveraging 3D computer-aided design (CAD). It helps in reducing time required for prototyping transitions in conventional manufacturing and in lowering the operational cost.
- High Rate of Adoption in Developed Markets
North America accounts for significant share of the global 3D printing market, due to extensive adoption of additive manufacturing. The U.S. and Canada have been the early adopters of technologies for various manufacturing process. Likewise, Europe is home to several companies active in additive manufacturing with strong technical expertise in the 3D printing processes. Collectively, North America and Europe account for more than 60% of the global market value..
- Growing Importance of 3D Printing in Healthcare Sector
Additive manufacturing plays an important role in the healthcare sector, as it helps in developing artificial muscles and tissues that replicate the human tissues. These factors are poised to drive the adoption of 3D printing across the healthcare landscape.
3D Printing Market Structure Analysis
- Leading players focus on upgradation of their existing technologies to cater to growing demand from different end-users.
- Key players with major shares in the 3D printing market are particularly relying on their strong R&D activities, strategic partnerships, and diverse product portfolio.
Market Value in 2029
US$ 19 Bn
CAGR over 2019-2029
Component, Vertical, Technology, Level
North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan, MEA
3D Systems Inc., ExOne, SLM Solutions, and Nano Dimension Ltd.
Aerospace Industry - Key Adopter of 3D Printing Technology
Factors such as low manufacturing costs and increased domestic production are powering the growth of 3D printing technology across every industrial dimension. The aerospace industry is among the key industries to invest in large-scale 3D printing for developing intricate components that exhibit greater resistance and lightweight properties versus those developed using traditional methods. As the aerospace industry continues to unlock the potential of 3D printing, manufacturers are focusing on establishing on-site 3D printing operations. Furthermore, 3D printing materials in manufacturing processes are contributing to considerable decrements in product-development cycle times in industries - consumer electronics, medical, and automotive - in due course of time.
North America and Europe Continue to Gather Center Stage
3D printing technology has emerged as a feasible alternative to traditional manufacturing in a multitude of use cases. Housing a strong foothold of technology pioneers, North America and Western Europe continue to offer value-capture prospects to players in the 3D printing market. Together, they procure over 60% of total market value, at present. While the 3D printing market in Asia Pacific (excluding Japan) is cruising in to represent a multibillion-dollar opportunity, the markets in Eastern Europe and Latin America are showcasing fastest annual growth rate - over 40%.
Artificial Intelligence to Take 3D Printing to New Heights
Artificial intelligence (AI) and 3D printing technologies are rapidly emerging from their nascent status, and are serving as a cornerstone in almost every sector, worldwide. 3D printing is a complicated process, thus, coupling it with AI will complement the precision and flexibility while producing a wide array of products. This blend of AI and 3D printing possesses the capability of transforming businesses, and holds great promise in advanced materials, design, and engineering.
Industrial-grade 3D printing remains highly preferred
Professional-grade 3D printing to gain rapid momentum
Surging adoption of material extrusion technology
Vat polymerization to witness rapid traction
High demand for polymers
Greater preference for ceramic expected
High application in aerospace industry
Increasing usage in automotive sector
How Growth will Unfold
Considering capital (CAPEX) and operational expenses (OPEX), material extrusion is the preferable technology in the 3D printing market. However, this technology will lose its share in the near future due to its high susceptibility to temperature changes and warping. Vat polymerization and selective laser sintering (SLS) techniques offer greater accuracy in tandem with reduced processing time, and, as such, are likely to outperform the material extrusion technique by the end of foreseeable timeframe. As binder jetting delivers lesser post-processing waste and is immune to extreme conditions, market players are exploring investment opportunities related to this technology.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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3D Printing Market Analysis 2019-2029
A recent market study published by Future Market Insights on the 3D printing market includes a global industry analysis of 2014-2018 and opportunity assessment for 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical as well as current growth parameters, growth prospects of the market are obtained with maximum precision.
3D Printing Market Taxonomy
The global 3D printing market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.
- Material Extrusion
- Vat Polymerization
- Selective Laser Sintering
- Material Jetting
- Binder Jetting
- Consumer Electronics
- Research and Academia
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Middle East & Africa
The report begins with the executive summary of the 3D printing market, which includes a summary of key findings and statistics of the market. It also includes the demand and supply-side trends pertaining to the market.
Readers can find the definition and detailed taxonomy of the 3D printing market in this chapter, which will help them understand the basic information about the market. Along with this, comprehensive information pertaining to 3D printing and its properties are provided in this section. This section also highlights the inclusions and exclusions, which help readers understand the scope of the 3D printing market report.
The 3D printing market report provides key market trends that are expected to significantly impact market growth during the forecast period. Detailed end-user trends are also provided in this section.
This section includes the key trends directly impacting the market, along with product innovation and development trends. This section also includes promotional strategies undertaken by 3D printing solution and service providers.
This section explains the global market value and volume analysis and forecast for the 3D printing market during the forecast period. It includes a detailed analysis of the historical 3D printing market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019-2029). Along with this, the year-on-year growth trend analysis of the 3D Printing market has also been provided in this section.
This chapter explains the key macroeconomic factors that are expected to influence growth of the 3D printing market during the forecast period. Along with the macroeconomic factors, this section also highlights forecast factors and value chain analysis of the 3D printing market. Moreover, in-depth information about the market dynamics and their impact on the market have been provided in this section.
Based on level, the 3D printing market is segmented into entry-level, hobbyist, enthusiast, professional, and industrial. In this chapter, readers can find market attractiveness analysis based on level.
Based on technology, the 3D printing market is segmented into material extrusion, vat polymerization, selective laser sintering, material jetting, and binder jetting, among others. In this chapter, readers can find market attractiveness analysis based on technology.
This chapter provides various details about the 3D Printing market based on industry, and has been classified into automotive, aerospace, industrial/business, consumer electronics, medical, research and academia, government/military, and architecture, among others. In this chapter, readers can find the market attractiveness analysis based on vertical.
This chapter explains how the 3D printing market is anticipated to grow across various geographic regions such as North America, Latin America, Western Europe, Eastern Europe, APEJ (Asia Pacific excluding Japan), Japan, and the Middle East & Africa. In this chapter, readers can find the market attractiveness analysis based on regional markets.
This chapter includes a detailed analysis on the growth of the North America 3D printing market, along with a country-wise assessment that includes the U.S. and Canada.
This chapter provides the growth scenario of the 3D printing market in Latin American countries such as Brazil, Mexico, and rest of Latin America.
Important growth prospects of the 3D printing market in several countries such as Germany, the U.K., France, Spain, Italy, BENELUX, and rest of Western Europe are included in this chapter.
This chapter provides the growth scenario of the 3D printing market in Eastern Europe countries such as Russia, Poland, and rest of Eastern Europe.
This chapter highlights the growth of the 3D printing market in the APEJ region by focusing on China, India, ASEAN, Australia and New Zealand, and rest of APEJ.
This section also help readers understand key factors that are responsible for the growth of the 3D printing market in Japan.
This chapter provides information about how the 3D printing market is anticipated to grow in major countries in the MEA region, such as Northern Africa, GCC countries, South Africa, Israel, Turkey, and the rest of MEA, during the forecast period.
In this chapter, readers can find detailed information about the tier-wise analysis of companies and market concentration of key players in the 3D printing market, along with their market share analysis.
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the 3D printing market, along with the detailed information about each company. This includes the company overview, key financials, product portfolio, revenue share by operating segment, and key strategies. Some of the market players featured in the report are 3D Systems, ExOne, Stratasys, Ltd., SLM Solutions Group AG, Voxeljet AG, Proto Labs, Inc., Arcam Group, Optomec Inc., Ultimaker BV, Renishaw plc, Nanoscribe, and Nano Dimension.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the 3D printing market report.
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the 3D printing market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Sales Heads
- Sales Executives
- Technical Advisors
- 3D Printing Providers
- End-user Experts
- End Users
- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near Term and Long Term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity of Assumptions
- Company White Papers
- Annual Reports and Investor Presentations
- Research Papers
- Company Press Release
- Government Websites and Publications
Primary Interview Splits